On The Drift with Adam Mesh, veteran trader and tastylive co-founder Tom Sosnoff called it exactly right. Sosnoff said from day one that he believed SpaceX (NASDAQ: SPCX) would trade below its $135 IPO price. When the clip was recorded, the stock was hovering just above that level. On Wednesday, July 15, 2026, SpaceX shares officially closed below $135 for the first time since going public, and the selloff has continued. As of Tuesday's close, SPCX was trading at $123.54, roughly 8.5% below the IPO price and about 45% below its record close of $225.64 set on June 16, just four days after the largest IPO in U.S. history. SpaceX priced its offering at $135 per share on June 11, 2026, raising $75 billion and valuing the company at $1.77 trillion. Shares opened at $150 the following day and closed at $160.95, up 19% in their first session, before peaking above $225 and beginning a steady decline. In the Drift clip, Sosnoff also detailed his options positioning, explaining that he had been ...